Retro, the recently launched friend-focussed photo sharing app, has secured over $21 million in Series A funding. The investment comes from prominent tech firm 8am Holdings and existing investors such as FAM (Fusion Accelerator Management). Founded by a team of former Instagram employees including Jason Phu and Andrew Zolotow, Retro aims to create an alternative to the popular photo-sharing platform.
As part of its funding round, Retro secured $21 million in Series A capital. With this investment, the app is expected to expand its features and user base as it continues to grow. Retro's unique focus on friendship-focused photos will appeal to users looking for a more personal approach to sharing their best moments online. The app currently boasts over 1 million registered users and has attracted significant attention in the tech community.
Retro's Series A funding is seen as a testament to its potential for growth, following months of intense speculation about its development. While details about future plans remain scarce, the investment suggests that Retro has a promising vision for expanding its reach beyond Instagram users. As a result, the app continues to be an interesting acquisition target in the tech space.